RGC Resources (NASDAQ:RGCO) CEO Paul Nester Acquires 500 Shares of Stock

RGC Resources Inc. (NASDAQ:RGCO) CEO Paul Nester acquired 500 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was purchased at an average cost of $21.30 per share, for a total transaction of $10,650.00. Following the completion of the purchase, the chief executive officer directly owned 134,213 shares of the company’s stock, valued at $2,858,736.90. The trade was a 0.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

RGC Resources Trading Up 1.4%

Shares of RGCO stock opened at $21.64 on Friday. RGC Resources Inc. has a fifty-two week low of $20.55 and a fifty-two week high of $27.99. The stock’s fifty day moving average price is $22.49 and its two-hundred day moving average price is $22.61. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.67 and a current ratio of 0.94. The company has a market cap of $225.49 million, a PE ratio of 16.15 and a beta of 0.52.

RGC Resources (NASDAQ:RGCO) last announced its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). RGC Resources had a return on equity of 11.73% and a net margin of 13.05%.The business had revenue of $17.11 million for the quarter, compared to the consensus estimate of $18.19 million.

RGC Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 17th were paid a dividend of $0.2175 per share. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, July 17th. RGC Resources’s payout ratio is presently 64.93%.

Institutional Investors Weigh In On RGC Resources

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of RGC Resources by 0.9% in the second quarter. Geode Capital Management LLC now owns 198,394 shares of the energy company’s stock valued at $4,441,000 after buying an additional 1,701 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in RGC Resources by 0.6% during the second quarter. Ameriprise Financial Inc. now owns 403,414 shares of the energy company’s stock worth $9,028,000 after buying an additional 2,486 shares in the last quarter. Tower Research Capital LLC TRC raised its position in RGC Resources by 440.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,821 shares of the energy company’s stock valued at $63,000 after buying an additional 2,299 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in RGC Resources by 200.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock worth $36,000 after acquiring an additional 1,068 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of RGC Resources by 24.6% in the third quarter. JPMorgan Chase & Co. now owns 12,678 shares of the energy company’s stock valued at $284,000 after purchasing an additional 2,502 shares during the last quarter. Institutional investors and hedge funds own 35.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RGCO shares. Weiss Ratings restated a “buy (b)” rating on shares of RGC Resources in a report on Friday, August 7th. Wall Street Zen cut RGC Resources from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, RGC Resources has a consensus rating of “Buy”.

About RGC Resources

RGC Resources, Inc (NASDAQ: RGCO) is a natural gas distribution and transmission company headquartered in Wheeling, West Virginia. Through its regulated subsidiaries, the company provides energy delivery services to residential, commercial and industrial customers across northern West Virginia, western Pennsylvania and parts of Maryland. RGC Resources focuses on maintaining a safe and efficient local pipeline network to ensure reliable supply to its service areas.

The company operates two primary business segments: distribution and transmission.